- Binance coin price is at $225.64, which is down by 5.48% in the last 24-hour timeframe and 0.20% down from the previous week
- BNB/BTC pair is negative with 2.61% in Friday’s trading session (0.004692)
- BNB performed with negative momentum on Friday’s trading session
Binance Coin had bullish momentum on the weekly chart, and it went up to $342.88 on February 19, 2021, while breaking above the resistance zones created in the past. Whereas BNB price set a mark of an all-time high. The BNB/ETH pair is neutral with a value of (0.1512) which is down by 0.92% in Friday’s trading session.
BNB Price Action Chart Indicates a Bearish Momentum
The technical chart of Binance Coin highlights a positive trend. In contrast, BNB price is $225.64. According to pivot points, the critical support level for BNB is placed at $196.40. Whereas if it moves up the key resistance levels to observe is $258.29. While diving into the weekly chart of a 4-hour time-frame, it completes a dragonfly doji candlestick pattern.
SMA-50 & 100, price is at $237.11 & $217.44, which acts as another strong support in the coin. SMA- 50 (purple) had a negative crossover over SMA- 100 (white) which projects a downtrend. The price breached both the SMA’s, investors can observe this as a red flag for the asset.
The RSI indicator (BEARISH) with a value of 42.60 indicates a sell signal in the coin. One can observe a decrease in value in future trading sessions.
BNB price is down by 5.48% on Friday’s trading session. The price is below both the SMA. Investors can expect the movement of price until the support level of 196.40. SMA and technical indicators recommend a sell signal in the coin.
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